UPS will move into 118,000 square feet of office space at 1655 Valley Road in August, said Tom Consiglio, principal of Parsippany-based Resource Realty, which represented the company in the deal. UPS, whose current 189,000-square-lease at 435 South St., in Morris Township, is due to expire in November, began a search for new space in January 2009, he said.

The Information Services group had been a tenant at 435 South St. since 1994, but the property, which was built in the 1970s, “had a need for a fairly large infusion of capital,” he said. “Although the landlord was willing to do it as part of the transaction, it would also mean UPS living through that capitalization program.”